IL LIL JUULL 5. A workshop designed to retrain workers 55 years of age and older who have lost their jobs is pro- posed. Suppose the workshop will increase the in- come of each participant by $1,000 per year for a period of 10 years. a. Calculate the present value of the increased in- come per participant with each of the following discount rates: 0 percent, 1 percent, 3 percent, 5 percent, and 10 percent. b. If the cost per participant is $8,000 and all those costs are incurred in the first year, at what dis- count rates will the benefit-cost ratio of the proj- ect exceed 12